Hawesko expects a good holiday season
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HAWESKO Holding AG /
Hawesko expects a good holiday season
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- Group growth picks up in the third quarter
- Third-quarter EBIT significantly higher than the previous year despite special
charges
- EBIT forecast for 2014 adjusted, still with a noticeable rise
Hamburg, 6 November 2014. Today the wine-trading group Hawesko Holding AG (HAW
GR, HAWG.DE, DE0006042708) published its report on the first nine months of
fiscal year 2014 as well as the figures for the third quarter. During the
quarterly period from 1 July to 30 September, consolidated sales rose in
comparison to the same quarter in the previous year (? 99.5 million) by 3.9% to
? 103.4 million, so that corporate growth picked up as expected over the course
of the year. With an increase of 14.2%, the mail order segment grew the most
strongly, primarily via activities in conjunction with the 50th anniversary of
the Hanseatisches Wein- und Sekt-Kontor. In the specialist retail segment, 40th
anniversary activities contributed to growth of 5.4% at Jacques' Wein-Depot
(adjusted for new openings: 4.6%). Due to a discontinued operation, the
wholesale segment posted a decline in sales of 5.4% compared to the same quarter
in the previous year. The consolidated operating result (EBIT) in the second
quarter of 2014 amounted to ? 2.5 million, up by 29.7% from the previous year
(? 1.9 million). The financial result was ? -0.3 million (previous year: ? -
0.4 million). Consolidated net income after deductions for taxes and non-
controlling interests for the quarter amounted to ? 1.6 million and ? 0.18 per
share (same quarter in the previous year: zero).
In the first nine months of fiscal year 2014 (1 January to 30 September), sales
rose by 2.1% to ? 322.4 million (comparable period in the previous year:
? 315.8 million). The operating result (EBIT) at ? 9.6 million was ? 2.5 million
or 20.6% below the figure for the previous year (? 12.1 million). Due to more
favourable results below the EBIT line, consolidated earnings after deductions
for taxes and non-controlling interests amounted to ? 6.6 million and ? 0.73 per
share, above the previous year's figures of ? 6.4 million and ? 0.71 per share.
Adjusted for the sales from the delivery of the Bordeaux subscription wines and
the discontinued operation, both in the nine-month reporting period and in the
previous year's period, sales in the core business rose by 5.7%. From this
standpoint, all three business segments grew: In addition to Jacques? Wein-Depot
with its sales increase of 4.9%, the mail order segment grew by 8.4% and the
wholesale segment by 3.9% respectively.
The Hawesko management board continues to expect a rise in sales in the order of
magnitude of 1-2% compared to the previous year (? 465 million). The board has
changed its forecast for the operating result (EBIT) and consolidated net
income. In the context of the continuous development of the Group, higher
expenses than expected totalling ? 1.8 million were incurred for consulting
services; these are by nature non-recurring costs. According to current
estimates of the management board, the profits in the subsidiaries will not
suffice to compensate for effects reducing the result; an increase in
profitability, which is expected particularly in the mail order segment after
stepping up its infrastructure, will occur more slowly than expected. Thus, the
management board has revised the previous EBIT forecast of ? 26 million
accordingly: it now expects that the result will be in a range between between
5.1% and 5.3% (previous year: 4.8%) of sales. According to the current
assessment of the management board, consolidated EBIT in the magnitude of ?
24-25 million (compared to ? 22.6 million in the previous year) is expected,
assuming normal development of the important holiday business in the fourth
quarter. Consolidated net income is now expected to be around ? 16 million
(previously: roughly ? 17 million).
CEO Alexander Margaritoff stated: "As expected, we were able to catch up on
sales revenues in the third quarter against the previous quarter. We were
likewise able to catch up in profits, but this development fell short of our
expectations. However, looking forward gives me reason to be confident: the
start of the all-important fourth quarter in October was satisfactory and all
signals are go for the pre-Christmas business!"
Hawesko Holding AG is a leading supplier of premium wines and champagnes. In
fiscal year 2013, the Group achieved sales of ? 465 million and employed 925
persons in the company's three sales channels: specialty retail (Jacques' Wein-
Depot), wholesale operations (Wein Wolf and CWD Champagner- und Wein-
Distributionsgesellschaft) and mail order (especially Hanseatisches Wein- and
Sekt-Kontor and Wein & Vinos). The shares of Hawesko Holding AG are listed on
the Hanseatic Stock Exchange in Hamburg as well as in the Prime Standard Segment
of the Frankfurt Stock Exchange.
# # #
The full nine-month financial report to 30 September 2014 is available for
downloading at http://www.hawesko-holding.com, --> "Press" or "Investors" -->
"Downloads".
Publisher:
Hawesko Holding AG, 20247 Hamburg
Internet:
http://www.hawesko-holding.com (Company information)
http://www.hawesko.de (Online shop)
http://www.jacques.de (Jacques' Wein-Depot locations and
online shop)
http://www.vinos.de (Spanish wines sold through Wein & Vinos)
Press/Media Contact and Investor Relations:
Thomas Hutchinson, Hawesko Holding AG
Phone: +49 (0)40 30 39 21 00
Fax +49 (0)40 30 39 21 05
E-mail: ir(at)hawesko-holding.com
This announcement is distributed by GlobeNewswire on behalf of
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(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: HAWESKO Holding AG via GlobeNewswire
[HUG#1869090]
Datum: 06.11.2014 - 08:00 Uhr
Sprache: Deutsch
News-ID 350237
Anzahl Zeichen: 6872
contact information:
Town:
Hamburg
Kategorie:
Business News
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